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Tradition to provide end of day pricing to Prime Source

July 20, 2009 at 7:20 am

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Prime Source, a NYSE Euronext company, and interdealer broker Tradition have formed a partnership whereby Tradition will provide end of day pricing of a range of financial products to PPARA_BREAK_SENTINEL_9f8e7d6c

Prime Source, a NYSE Euronext company, and interdealer broker Tradition have formed a partnership whereby Tradition will provide end of day pricing of a range of financial products to Prime Source.

The Prime Source service allows users to access prices and evaluations from different sources, including markets, dealer contributions and valuation models designed to meet professional buy-side market participants' needs for valuation of large, global portfolios of complex structured products and illiquid securities.

Tradition will provide end of day rates and money market data covering G10, Asia and European emerging markets.

The end of day pricing will be particularly useful for funds, fund administrators, auditors, portfolio managers and investors (risk management, compliance) as well as issuers.

Bruce Collins, deputy chairman of Tradition, says: 'We are delighted to be the first IDB whose data is included in the Prime Source service offering unique access to OTC valuations. This new service represents our ongoing commitment to innovation and customer service and will strengthen Tradition's position as a leading interdealer broker'.

Marie-Hélène Crétu, chief executive of Prime Source, says: 'We are very pleased with this new partnership. The availability of Tradition's pricing will enhance the valuation services available via Prime Source. Through Prime Source, users can obtain the information they need to facilitate their valuation process in one single, independent source.'